Sterling Metals ( (TSE:SAG) ) has issued an announcement.
Sterling Metals has announced a non-brokered private placement of up to 4,000,000 units at $0.25 per unit, aiming to raise up to $1,000,000. The proceeds will be used for general working capital purposes. Each unit consists of one common share and one-half of a common share purchase warrant, with warrants exercisable at $0.40 per share for two years. The offering is subject to regulatory approvals, including from the TSX Venture Exchange, and all securities will be under a four-month hold period. This move is expected to support Sterling’s ongoing exploration projects in Canada, potentially enhancing its market position in the mineral exploration industry.
More about Sterling Metals
Sterling Metals is a mineral exploration company focused on large-scale and high-grade Canadian exploration opportunities. The company is advancing the Copper Road Project in Ontario, which has past production and multiple breccia and porphyry targets, and the Adeline Project in Labrador, which covers an entire sediment-hosted copper belt with significant silver credits.
Average Trading Volume: 21,896
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$7.45M
Find detailed analytics on SAG stock on TipRanks’ Stock Analysis page.